Calpine Names New Leaders for Commercial Development, Finance and
Treasury

February 12, 2013 12:54 PM Eastern Standard Time

HOUSTON--(BUSINESS WIRE)--Calpine Corporation (NYSE: CPN) has named two Vice Presidents to lead
its Commercial Development and its Finance and Treasury functions.

Todd Thornton has been named Vice President of Commercial
Development, a new position created to drive Calpine’s greenfield and
brownfield development efforts. Mr. Thornton will report to President
and Chief Operating Officer Thad Hill. Mr. Thornton joined Calpine in
October 2000 as a Financial Analyst and has held increasingly
responsible positions within the Finance department, including being
named Vice President of Finance in 2007 and Treasurer in 2009. He was
instrumental in guiding the Company through transformation of its
capital structure. He earned a Bachelor of Science degree in Finance
from Northern Illinois University.

Stacey Peterson has been named to replace Mr. Thornton as Vice
President of Finance and Treasurer and will report to Executive Vice
President and Chief Financial Officer Zamir Rauf. Ms. Peterson will be
responsible for capital markets and financing activities, including
debt compliance, and Treasury operations. Ms. Peterson previously
served as Vice President of Trading in Commercial Operations. She
joined Calpine in 2007 as part of the restructuring team, focused on
the ERCOT region. She was named Director of Finance in 2009 and Vice
President of Trading in 2011 and has played key roles on a variety of
commercial projects and transactions. Prior to Calpine, Ms. Peterson
worked for BP, where she was involved in upstream and midstream
capital structuring and analysis. She earned a Bachelor of Science in
Finance from the Kelley School of Business at Indiana University.

“Todd and Stacey exemplify the deep bench of talented leaders at Calpine
and our commitment to developing and growing the careers of our
employees,” said Mr. Hill. “In Todd’s new role, he will help us realign
and strengthen our development efforts to take advantage of fiscally
responsible growth opportunities in our key markets.”

“Stacey’s experience and outstanding performance in our Finance and
Commercial Operations groups will provide valuable insight as she
assumes this leadership role,” said Mr. Rauf.

About Calpine

Calpine Corporation generates more electricity than any other
independent power producer in America, with a fleet of 92 power plants
in operation or under construction, representing more than 27,000
megawatts of generation capacity. Serving customers in 20 states and
Canada, we specialize in developing, constructing, owning and operating
natural gas-fired and renewable geothermal power plants that use
advanced technologies to generate power in a low-carbon and
environmentally responsible manner. Our clean, efficient, modern and
flexible fleet is uniquely positioned to benefit from the secular trends
affecting our industry, including the abundant and affordable supply of
clean natural gas, stricter environmental regulation, aging power
generation infrastructure and the increasing need for dispatchable power
plants to successfully integrate intermittent renewables into the grid.
We focus on wholesale competitive power markets and advocate for
market-driven solutions that result in nondiscriminatory forward price
signals for investors. Please visit www.calpine.com
to learn more about why Calpine is a generation ahead – today.

Forward-Looking Information

In addition to historical information, this release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Words such as “believe,” “intend,”
“expect,” “anticipate,” “plan,” “may,” “will” and similar expressions
identify forward-looking statements. Such statements include, among
others, those concerning expected financial performance and strategic
and operational plans, as well as assumptions, expectations,
predictions, intentions or beliefs about future events. You are
cautioned that any such forward-looking statements are not guarantees of
future performance and that a number of risks and uncertainties could
cause actual results to differ materially from those anticipated in the
forward-looking statements. Please see the risks identified in this
release or in Calpine’s reports and registration statements filed with
the Securities and Exchange Commission, including, without limitation,
the risk factors identified in its Annual Report on Form 10-K for the
year ended Dec. 31, 2011. These filings are available by visiting the
Securities and Exchange Commission’s website at www.sec.gov
or Calpine’s website at www.calpine.com.
Actual results or developments may differ materially from the
expectations expressed or implied in the forward-looking statements, and
Calpine undertakes no obligation to update any such statements.